Option Millionaires

[retiredMM]

I think we head lower before we head higher. I am looking for a pullback to $200 (SPY) first stop and then to $195 or possibly $190-$192.50 area. It won't be in a straight line down though. You will see bounce back days like today (at least that is where it looks like we are headed this morning) but I believe we are trending down.

I do think that this market will head to $217-219ish this year in the first half but then we head lower again IMO. I think that will be the high for the year and then we trend lower again the 2nd half. I wouldn't be surprised to see the market end the year below $200 but we may also see it get there before December with a chance they try to have a Santa rally to bring it above that level.